AMSC ASA - Director's Dealing 2017

American Shipping Company ASA : Primary insider disclosure

29 March 2017 - On April 27, 2016, the Annual General Meeting of American

Shipping Company ASA ("AMSC" or the "Company") granted the Board of Directors of

AMSC an authorization to purchase treasury shares in connection with the

Company's incentive scheme for employees. In accordance with this authorization,

the Company will today place an order with an investment broker for purchase of

25,000 treasury shares, with execution from 30 March, 2017 and onwards.

The 25,000 shares will be sold to MB Capital AS, a company controlled by Morten

Bakke, CFO of AMSC, as part of the incentive scheme for the Company's employees.

The purchase price shall be the stock price at the date AMSC delivers the

shares, less a price reduction of 20% to compensate for the lock-up restrictions

on the shares for a period of three years.

Following the acquisition of the shares, MB Capital AS will hold 25,000 shares

in AMSC, constituting approximately 0.04% of the Company's shares and votes.

***

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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